Ontario’s iGaming market, managed by iGaming Ontario (iGO), has released a remarkable performance report for Q1 2023. Between January 1 and March 31, a staggering $10.2 billion in wagers were placed, marking a substantial 20.8% increase compared to the previous quarter’s $8.5 billion. In just one year since its launch on April 4, 2022, the regulated iGaming market in Ontario has witnessed an impressive $26.5 billion in total wagers.
Revenue Soars
In terms of revenue, the province of Ontario reported $415.5 million in Q4, reflecting a significant 13.6% surge from the previous quarter and bringing the annual revenue total to $1.4 billion. These financial figures highlight the immense success and growth of Ontario’s iGaming sector.
Active Player Accounts and Market Competition
Since its launch, Ontario’s iGaming market has seen over 1.6 million active player accounts on websites operated by more than 40 licensed operators in partnership with iGaming Ontario. This robust participation has transformed Ontario into a highly competitive market. During Q4, 1.01 million accounts remained active, with players contributing a monthly average of $128.64.
Preferred Sports for Betting
The report also shed light on the sports preferences of Ontario’s bettors. Basketball took the lead with 28% of total betting wagers, followed by soccer at 15%, football at 14%, hockey at 9%, and baseball at 8%.
Wazdan’s Partnership with Caesars Sportsbook & Casino
In related news, Wazdan, a prominent gaming content provider, has sealed a partnership deal with Caesars Sportsbook & Casino in Ontario. Wazdan acquired its license from the Alcohol and Gaming Commission of Ontario in May 2022. The collaboration entails the integration of Wazdan’s extensive slots portfolio, including the acclaimed title “9 Coins,” which has been shortlisted for the Best New Game category at the EGR North America Awards 2023.
The thriving performance of Ontario’s iGaming market underscores its potential as a dynamic and rapidly expanding sector, contributing significantly to the province’s economy.
Ontario’s iGaming market has achieved remarkable milestones in Q1 2023, with a substantial increase in total wagers and revenue. The province’s commitment to providing a regulated iGaming environment has attracted millions of active players and numerous operators, creating a competitive and prosperous landscape. The partnership between Wazdan and Caesars Sportsbook & Casino further solidifies Ontario’s position as a thriving hub for iGaming innovation and growth. The future of Ontario’s iGaming market looks promising, with potential for continued expansion and success.